Earned Income Tax Credit (EITC) is a tax credit for people who work and earn low wages. The tax credit means more money for the people who have them. It reduces the the amount of tax you owe and the EITC may also give you a refund.
The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.To qualify, taxpayers must meet certain requirements and file a tax return, even if they do not have a filing requirement.
Requirements:
Social Security number
earned income
cannot be married
must be a U.S. citizen
cannot be a qualifying child of another peorson
if you do not have a qualifying child you must be from 25-65
must live in the states for at least half a year
Find out if you are eligible for the Earned Income Tax Credit by answering questions and providing basic income information using the EITC Assistant.
We believe that this is helpful for short term problems but in the long run, money can only go so far.
The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.To qualify, taxpayers must meet certain requirements and file a tax return, even if they do not have a filing requirement.
Requirements:
Social Security number
earned income
cannot be married
must be a U.S. citizen
cannot be a qualifying child of another peorson
if you do not have a qualifying child you must be from 25-65
must live in the states for at least half a year
Find out if you are eligible for the Earned Income Tax Credit by answering questions and providing basic income information using the EITC Assistant.
We believe that this is helpful for short term problems but in the long run, money can only go so far.
http://www.irs.gov/individuals/article/0,,id=96406,00.html